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May 24, 2013

2013 March YTD (1st Quarter) London Housing Market Comments

“Spring Market Off to Slow Start” was the headline of the London St Thomas Real Estate boards press release for the March 2013 results. Coming out of the slower housing market of the final months of 2012 I expected that the opening months of 2013 would be down against the strong opening months of 2012 and they have been slightly behind. However January & February 2013 sales where about the 2011 sales levels.

However, March home sales activity changed that picture significanly. In March 2011 sales spiked up to 809 homes, but in 2013 they dropped significanly to 612 homes which is below the 2012 level of 770 sales. Thus creating a significant change in the year to date figures as well.